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Q1. Suppose that Abel builds a factory next to Baker's farm, and air pollution from the factory harms Baker's crops. Is Baker's property right to the land being violated? Is an externality present? What if the pollution invades Baker's home and harms her health? Are her property rights violated? Is an externality present? Explain.
Q2. Sally and Joe recently graduated from college, mutually majoring in history. Joe took an impressive job as a legal clerk. Sally obtains a job as a specialist in fighting forest fires. Equally receive an additional training to both of them before entering into their jobs. Among both of them who will likely earn a higher salary and why?
Illustrate what public policies might be used to address one of the problems you identified in your response to the question above.
Starting with the estimated demand function for Chevrolets given in problem suppose the average value of the independent variables
Elucidate how resource scarcity influences this marketplace also describe choices stakeholders must make.
To what extent is to greek proverb "Happiness is the full utilization of your capacities along lines of excellence." similar and different from the traditional definition of economics.
If you were to take the position of a supply-sider which is a proponent of supply-side economics, illustrate what tool of Supply-side economics do you believe would help promote economic growth In the United States given today’s economic environ..
Elucidate how which any two pure strategy equilibria of a zero-sum game are interchangeable also equivalent.
Jason likes to buy guitars and trumpets. His marginal utility of guitars is given by MUG = (7T0.3)/(10G0.3) and his marginal utility for trumpets is given by MUT = (3G0.7)/(10T0.7), where G is the number of guitars Jason buys and T is the number of t..
Explain why it is in the best interest of society to treat these types of property the same or differently.
Compute a range of possible values for total gain with a Illustrate what is meant by the term 'utility,' and how does it relate to purposeful behavior.
If the price of apples rises and the quantity of apples exchanged decreases, then we know that there cannot have been a: decrease in supply with no change in demand.
Illustrate what would be the size of the resulting deadweight loss relative to the competitive outcome.
Assume that a very competitive start-up enters the market in direct competition with the oligopoly you described in the e-Activity.
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